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Investment in Real Estate (Tables) | 12 Months Ended
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Dec. 31, 2022
Real Estate [Abstract] |
Investment in Real Estate | The following table summarizes the Company’s investment in real estate, at cost as of:
| December 31, 2022 |  | December 31, 2021
Land | $ | 1,397,714 |  |  | $ | 1,313,385 |
Building and improvements | 6,273,655 |  |  | 6,241,254 |
Tenant and leasehold improvements | 868,193 |  |  | 786,991 |
Furniture and fixtures | 9,639 |  |  | 14,020 |
Property under development | 167,371 |  |  | 5,827 |
INVESTMENT IN REAL ESTATE, AT COST | $ | 8,716,572 |  |  | $ | 8,361,477 |
Schedule of Allocation of Acquisition Cost | The following table represents the Company’s final purchase price accounting for the asset acquisitions completed in 2022:
|  | Washington 1000 |  | Sunset Gower Studios Land |  | 5801 Bobby Foster Road
TOTAL ACQUISITION COST(1) |  | $ | 86,313 |  |  | $ | 22,156 |  |  | $ | 8,457 |
Relative fair value allocation |  |  |  |  |  |
Land |  | $ | 59,987 |  |  | $ | 22,156 |  |  | $ | 2,189 |
Building and improvements |  | 11,053 |  |  | — |  |  | 6,268 |
Parking easement(2) |  | 15,273 |  |  | — |  |  | — |
TOTAL |  | $ | 86,313 |  |  | $ | 22,156 |  |  | $ | 8,457 |
_____________ 1.Includes capitalized transaction-related expenses. 2.Parking easement has an indefinite useful life and is recorded in deferred leasing costs and intangible assets, net on the Consolidated Balance Sheet.
Real Estate Acquisitions, Allocation of Consideration | The following table represents the Company’s final purchase price accounting for the 5 th & Bell acquisition:
TOTAL ACQUISITION COST(1) |  | $ | 118,907 |
Relative fair value allocation |  |
Investment in real estate |  | $ | 102,939 |
Deferred leasing costs and in-place lease intangibles(2)(3) |  | 10,443 |
Below-market ground leases(2)(3) |  | 10,844 |
Below-market leases(3)(4) |  | (5,319) |
TOTAL |  | $ | 118,907 |
_____________ 1.Includes capitalized transaction-related expenses. 2.Included in deferred leasing costs and intangible assets, net on the Consolidated Balance Sheet. 3.The weighted-average amortization period of these intangible assets and liabilities is 9.4 years (before any renewal or extension options). 4.Included in intangible liabilities, net on the Consolidated Balance Sheet.
Real Estate Dispositions |
Property |  | Segment |  | Date of Disposition |  | Square Feet |  | Sales Price(1) (in millions)
Del Amo |  | Office |  | 8/5/2022 |  | 113,000 |  |  | $ | 2.8 |
Northview |  | Office |  | 8/30/2022 |  | 179,985 |  |  | 46.0 |
6922 Hollywood |  | Office |  | 10/20/2022 |  | 205,189 |  |  | 96.0 |
TOTAL DISPOSITIONS IN 2022 |  |  |  |  |  | 498,174 |  |  | $ | 144.8 |
_____________ 1.Represents gross sales price before certain credits, prorations and closing costs. The following table summarizes information on properties classified as held for sale as of December 31, 2022 and 2021:
Property |  | Segment |  | Submarket |  | Square Feet |  | Status as of December 31, 2022 |  | Status as of December 31, 2021
Skyway Landing |  | Office |  | Redwood Shores |  | 246,997 |  |  | Held for Sale(1) |  | Held for Sale
Del Amo |  | Office |  | Torrance |  | 113,000 |  |  | Sold |  | Held for Sale
Northview |  | Office |  | Lynnwood |  | 179,985 |  |  | Sold |  | Held for Sale
6922 Hollywood |  | Office |  | Hollywood |  | 205,189 |  |  | Sold |  | Held for Sale
_____________ 1.The property was sold on February 6, 2023 for $102.0 million before certain credits, prorations and closing costs.
Held For Sale | The following table summarizes the components of assets and liabilities associated with real estate held for sale as of December 31, 2022:
|  | Skyway Landing
ASSETS |  |
Investment in real estate, net |  | $ | 92,148 |
Accounts receivable, net |  | 112 |
Straight-line rent receivables, net |  | 460 |
Deferred leasing costs and intangible assets, net |  | 501 |
Prepaid expenses and other assets, net |  | 17 |
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE |  | $ | 93,238 |
LIABILITIES |  |
Accounts payable, accrued liabilities and other |  | $ | 400 |
Security deposits and prepaid rent |  | 265 |
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE |  | $ | 665 |
The following table summarizes the components of assets and liabilities associated with real estate held for sale as of December 31, 2021:
|  | Northview Center |  | Skyway Landing |  | Del Amo |  | 6922 Hollywood
ASSETS |  |  |  |  |  |  |  |
Investment in real estate, net |  | $ | 40,338 |  |  | $ | 89,873 |  |  | $ | 15,213 |  |  | $ | 91,353 |
Accounts receivable, net |  | 95 |  |  | 142 |  |  | — |  |  | 103 |
Straight-line rent receivables, net |  | 901 |  |  | 1,659 |  |  | — |  |  | 4,714 |
Deferred leasing costs and intangible assets, net |  | 751 |  |  | 450 |  |  | 2,742 |  |  | 1,999 |
Prepaid expenses and other assets, net |  | — |  |  | — |  |  | — |  |  | 187 |
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE |  | $ | 42,085 |  |  | $ | 92,124 |  |  | $ | 17,955 |  |  | $ | 98,356 |
LIABILITIES |  |  |  |  |  |  |  |
Accounts payable, accrued liabilities and other |  | $ | 184 |  |  | $ | 273 |  |  | $ | 12 |  |  | $ | 1,372 |
Intangible liabilities, net |  | — |  |  | — |  |  | — |  |  | 96 |
Security deposits and prepaid rent |  | 395 |  |  | 1,205 |  |  | — |  |  | 361 |
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE |  | $ | 579 |  |  | $ | 1,478 |  |  | $ | 12 |  |  | $ | 1,829 |

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